Saving for a life milestone

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Every family has their own unique ambitions and dreams. That’s why our advisors don’t use a one-size-fits-all approach to help you plan for the future. Instead, they work hard to understand your needs and make it easier for your family to achieve their dreams.

Working together to support your future goals

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Watch time: 50 seconds

Narrator: There’s no better feeling than finding the person you want to spend the rest of your life with...

...It’s comforting to know you’ll get to share your life with your partner...

...Your highs and lows, your dreams and goals, and, in most cases, your expenses and finances.

<on-screen> What can you do now to protect yourselves from the unexpected?

Narrator: Build a solid foundation for you and your partner with solutions designed to meet your needs.

Help your partner feel financially secure in case you pass away.

Have a safety net in place in case one of you becomes seriously ill.

Take the next step to secure a brighter future together.

Learn more about solutions for your family. 

Speak to your advisor today.

More resources

RESP Calculator

Use this RESP calculator to find out how much you need to save to help cover your child(ren)'s post-secondary education costs.

How to balance saving for a home and retirement

Great news for Canadians! New programs are addressing the housing crisis, making homeownership more accessible. With smart planning, can you balance buying a home with your retirement goals too?

Mortgage insurance vs. life insurance: What you need to know

Do you need mortgage insurance to protect your home? Or would life insurance do more for you? Learn about the difference between mortgage insurance and life insurance. Find out which one better protects your home and family.

3 reasons to get life insurance in your 20s or 30s

Think you’re too young for insurance? Here’s why you may want to reconsider.

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Video: What’s an FHSA?

Watch time: 1 minute 47 seconds

In this “Simply Put” video, learn the basics of FHSAs – and how an FHSA can help you buy your first home.

What is an FHSA?

Simply put, the First Home Savings Account, or FHSA, is a new type of registered savings plan.

The FHSA allows first-time home buyers to save towards their first home, in a tax-free savings vehicle.

How does an FHSA work?

To open an FHSA, you must be a Canadian resident, be at least 18 years old and under age 71, and not have owned a home in the current or previous four calendar years.

You can contribute up to $8,000 per year to the account, up to a total of $40,000.

You can use your contributions and any investment growth for a first-home purchase.

However, if you don’t use withdrawals for a first home within 15 years, they’ll be considered taxable income.

What are the advantages of an FHSA?

The main advantage of an FHSA is that it allows first-time home buyers to save for a home purchase in a tax-efficient way.

Contributions to the FHSA are deductible for tax purposes, similar to an RRSP. And you don’t have to pay tax on either the contributions or investment earnings, as long as you don’t over-contribute. That means the money can grow faster over time.

Another key benefit is that the withdrawals you use for a first home are also tax-free, when you use them to buy a qualifying first home.

If you’re a first-time home buyer, the FHSA can make it easier for you to save for a down payment and purchase a home sooner, than if you had saved in a regular, taxable account.

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